National firms buy the Ranch at Pinnacle Point in Rogers
by February 19, 2015 1:53 pm 186 views
Balfour Beatty Communities and Block Multifamily Group have acquired the Ranch at Pinnacle Point, a 392-unit multifamily community built in 2007 in northwest Rogers. In this joint venture, Balfour Beatty will deliver asset management services and Block will perform all property management services.
“The Rogers, Ark,, rental market is proving to be quite strong as a result of regional job and population growth, making this acquisition a perfect fit with our multifamily strategy," said Chris Williams, president of Balfour Beatty Communities. "We are quite pleased to enter this new geographic market for our business and partner with Block Multifamily to deliver a quality, high-performing residential community."
Ranch at Pinnacle Point consists of one, two and three bedroom units that range from 650 to 1350 square feet. The apartment homes offer walk-in closets, washer/dryer connections, fireplaces, a balcony, deck or patio, and garage parking. Community amenities include a pool, fitness center, billiards room, movie theatre, business center, clubhouse, dog park, and a sand volleyball court.
“The joint relationship between Block Multifamily Group and Balfour Beatty Communities provides our investors with a powerhouse management team,” said Bill Larson, president of BMG.